First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) Stock Short Interest Declines 57.0%

Key Points

• Short interest fell 57.0% to 56,979 shares as of September 15, from 132,604 shares on August 31. Short interest now represents 0.1% of shares outstanding, with a days-to-cover ratio of 0.3.
• Several institutional investors increased their TDIV positions in the second quarter, including Envestnet Asset Management, Integrated Wealth Concepts, Concorde Asset Management, and NewEdge Advisors.
• TDIV shares recently traded at $111.95, while the fund announced a reduced quarterly dividend of $0.3497, down from $0.4231 previously. The annualized dividend is approximately $1.40, implying a 1.2% yield.

First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV - ) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 56,979 shares, a decrease of 57.0% from the August 31st total of 132,604 shares. Based on an average daily volume of 220,547 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On First Trust NASDAQ Technology Dividend Index Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in First Trust NASDAQ Technology Dividend Index Fund by 9.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 838,304 shares of the company's stock valued at $96,304,000 after acquiring an additional 71,483 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new stake in First Trust NASDAQ Technology Dividend Index Fund during the 2nd quarter worth approximately $72,000. Concorde Asset Management LLC grew its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 9.2% in the 2nd quarter. Concorde Asset Management LLC now owns 52,841 shares of the company's stock valued at $6,070,000 after purchasing an additional 4,446 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of First Trust NASDAQ Technology Dividend Index Fund by 415.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 62,657 shares of the company's stock valued at $7,198,000 after purchasing an additional 50,505 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of First Trust NASDAQ Technology Dividend Index Fund by 6.8% in the second quarter. NewEdge Advisors LLC now owns 424,544 shares of the company's stock valued at $48,772,000 after purchasing an additional 26,904 shares during the period.

First Trust NASDAQ Technology Dividend Index Fund Stock Performance

First Trust NASDAQ Technology Dividend Index Fund stock traded down $2.13 during midday trading on Monday, hitting $111.95. 29,522 shares of the company's stock were exchanged, compared to its average volume of 135,918. First Trust NASDAQ Technology Dividend Index Fund has a 12-month low of $90.24 and a 12-month high of $128.50. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 25.63 and a beta of 1.17. The firm's 50 day simple moving average is $113.87 and its 200 day simple moving average is $110.18.

First Trust NASDAQ Technology Dividend Index Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 24th will be issued a $0.3497 dividend. The ex-dividend date of this dividend is Thursday, September 24th. This is a negative change from First Trust NASDAQ Technology Dividend Index Fund's previous quarterly dividend of $0.4231. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%.

First Trust NASDAQ Technology Dividend Index Fund Company Profile

The First Trust NASDAQ Technology Dividend Index Fund (TDIV) is an exchange-traded fund that is based on the NASDAQ Technology Dividend index. The fund tracks a modified dividend-weighted index of US-listed technology companies that pay regular dividends. TDIV was launched on Aug 14, 2012 and is managed by First Trust.

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